XML 28 R8.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (8,087) $ 4,162
Adjustments to reconcile income (loss) to net cash used in operating activities:    
Amortization of (additions to) acquisition costs, net 556 (265)
Realized investment gains, net (249) (1,385)
Unrealized (gains) losses on equity securities, net 8,455 (6,489)
Compensation expense related to share awards 99 58
Depreciation and amortization 251 193
Deferred income tax (benefit) expense (2,269) 1,123
Decrease in receivables, net 3,218 3,936
Decrease in insurance reserves and policyholder funds (9,060) (4,767)
(Decrease) increase in accounts payable and accrued expenses (3,928) 2,100
Other, net 502 (5,612)
Net cash used in operating activities (10,512) (6,946)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from investments sold 5,641 18,604
Proceeds from investments matured, called or redeemed 2,555 1,878
Investments purchased (2,204) (17,470)
Additions to property and equipment (38) (26)
Net cash provided by investing activities 5,954 2,986
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from shares issued under stock plans 3 7
Treasury stock acquired - share repurchase authorization 0 (49)
Treasury stock acquired - net employee share-based compensation 0 (14)
Net cash provided by (used in) financing activities 3 (56)
Net decrease in cash and cash equivalents (4,555) (4,016)
Cash and cash equivalents at beginning of period 12,893 12,630
Cash and cash equivalents at end of period 8,338 8,614
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest $ 491 $ 552